Advantages and disadvantages of sarima model

Reference no: EM133694186

Data-driven Decision Making and Forecasting

Assessment - Fitting and evaluating ARIMA and VAR time series models

Your Tasks
In Class: Compare fitting a SARIMA model to fitting an ARMA model to residuals from a Prophet model, for two time series. Discuss the advantages and disadvantages of the two approaches.

Assessment Description
In class: Two time series will be given to you at the start of your usual 3-hour class in Week 9, together with specific questions to answer. You will be expected to use Exploratory and Excel

In class:
At the beginning of the class, your lecturer will provide you with a dataset and a series of questions to answer. You will create a Word document with the answers to questions. At the end of class, submit your Word file via MyKBS.

Part A: Fit SARIMA models to the two time series and provide plots of the time series and predictions. Provide the acfs of the residuals.

Part B: Obtain residuals from Prophet models and fit ARMA models to these residuals.

Part C: Discuss the advantages and disadvantages of the two approaches.

Reference no: EM133694186

Questions Cloud

Fitted sarima models to the two time series : Fitted SARIMA models to the two time series, Data-driven Decision Making and Forecasting - Compare fitting a SARIMA model to fitting an ARMA model to residuals

Obtained residuals from prophet models : Obtained residuals from Prophet models and provide plots of the time series and predictions, Fitting and evaluating ARIMA and VAR time series models Assessment

Plot of the time series and predictions : Provide the acfs of the residuals, Plot of the time series and predictions and Obtain residuals from Prophet models and fit ARMA models to these residuals

Advantages and disadvantages of arma and sarima model : Discuss the advantages and disadvantages of the ARMA model and SARIMA model, Obtain residuals from Prophet models and fit ARMA models to these residuals

Advantages and disadvantages of sarima model : Discuss the advantages and disadvantages of SARIMA model to fitting an ARMA model, Data-driven Decision Making and Forecasting

Arma model to residuals from a prophet model : ARMA model to residuals from a Prophet model, Fitting and evaluating ARIMA and VAR time series models Assessment - Data-driven Decision Making and Forecasting

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